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Lou Dobbs Tonight

News/Business. Lou Dobbs. The journalist offers his take on issues and interviews newsmakers. (CC)

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01:00:00

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San Francisco, CA, USA

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Virtual Ch. 130 (Fox Business)

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mpeg2video

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ac3

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704

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480

TOPIC FREQUENCY

Fema 16, New York 13, Ho 11, Virginia 9, America 8, Us 8, Staten Island 8, Sandy 7, Neil 6, Jack Welch 6, Washington 4, Louisiana 4, Romney 3, Bobby Jindal 3, Duncan 3, Verizon 2, Mary Ann 2, North America 2, Connecticut 2, Pennsylvania 2,
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  FOX Business    Lou Dobbs Tonight    News/Business. Lou Dobbs. The journalist offers  
   his take on issues and interviews newsmakers. (CC)  

    November 3, 2012
    10:00 - 11:00am EDT  

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we hope you have a great weekend. good night from new york. >> announcer: this is a fox news channel special presentation. your thoughts, now, neil cavuto. >> it is on, the final blitz is on! the election now three days away, anger and frustration continue to mount over the response to sandy. today, it is the tale of two remarkable lines, this for folks looking to fill up, as the shortage of gas leads to rational and more and these lines, folks lining up for early voting in florida. some waiting for four hours to vote. so far, more than 25 million
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americans have cast ballots in 34 states. we're on top of both, during the next two hours, with among others, louisiana republican governor bobby jindal on the storm after the storm, and we have former general electric ceo jack welch on the economic storm he sees brewing and congressman charlie rangel on the government's stormy response to sandy. and how it reverberates, first the latest for you on what is going on. forget the dollars, the sandy thing is turning dire, very dire. over 100 dead and the count expected to go higher as rescue workers reach the flooded homes and, mayor bloomberg predicting more bodies will be found and president obama holding a conference call with the governors of new york, new jersey and connecticut. and, that '70s show in the garden state all over again. new jersey governor chris christie ordering odd-even gas rationing, to help ease incredibly long lines at the
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pump and license plates ending in odd numbers fill up on odd days and even numbers on even days, the changes go into effect less than two hours from now in 12 new jersey counties. and, governor mitt romney wrapping up an event in battle ground state of new jersey, louisiana governor bobby jindal traveling with him, and we'll talk to the governor in a few moments, and, staten island and the storm after the storm. those escaping death now, pleading with city officials for food, water and any help they can get. anna is on is right now. >> reporter: good morning to you, neil, you mentioned over 169 dead at here on staten island, at least, and, as police are saying those numbers could be going up as they continue to uncover debris and potentially find more bodies. we're 300 yards from the ocean. from the water and there is pretty much not a home in the
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neighborhood that has not been completely destroyed by hurricane sandy. and, residents, they are hoping for food, and water and information, now, homeland security secretary janet napolitano did tour the area yesterday with fema, promising resources. governor andrew cuomo of new york promising $100 million for relieve for these victims of hurricane sandy, and even this morning, announcing there will be a temporary deployment of gas trac trucks to help with the shortage. the residents are desperate and i'm joined by a staten island resident, good morning to you. >> good morning, how are you? >> reporter: tell me, what have you been dealing with? you are all fired up. >> what is going on, we are stuck on this avenue, and a lot of neighbors are and we have no electricity, no phones, no cell phones and we can't get in touch with fema. we tried to put on-line applications and most of us don't have internet access... >> reporter: you checked the internet and you said, i don't
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have internet. >> i don't have it and, i have been chasing fema and they told me to go to susan wagner and go down by the beach, here and now i found out, we are supposed to be here at 9 o'clock and now they are... >> reporter: you are chasing them around. what are you doing? how much gas do you have in your car. >> my generator is pumping water out of my home, and other neighbors are trying to help. i have to wait on-line at 1:30, 2:00 a.m. to get a few gallons, if we're lucky. i would appreciate maybe officials would come down and maybe hand out papers and tell us where you will be tomorrow and the next day so we can get to you. >> reporter: how is this response from the red cross? they tried to get on the island and had a hard time because of the traffic issues. have you felt like the response is better the last couple of days. >> yesterday was the first day they came down with food, i didn't even know that they were here and wanted to get water and food. no one told us they were here.
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>> reporter: it is having to be word of mouth as much as possible. they say to check twitter as well, but many people don't have a way to charge their cell phones, and we can tell you, this tweet came out, one of our producers, piping hot meals prepared by southern baptist, loaded on red cross trucks, for staten island. and, you know, that is the thing, you really are having to rely on old forms of communication. >> yes. and i do work for the city and bloomberg said all mandatory employees for work and i can't, because i have a basemve basema of water and may not be paid and i don't know if my husband has a job and i need my income but i need a day or two, time, what we call in our banks... they say you may not be able to use the time in the bank, how do you do this to us? this is supposed to be your city. >> reporter: one more question, residents on staten island have
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been upset about the new york city marathon that was going to go on tomorrow. can't count how many expletives i've heard. how do you feel about the mayor deciding to cancel it. >> excellent. people need hotels to stay in and have people come here for a marathon is pathetic. he's pathetic. >> reporter: initially the reasoning was, it has been going on for decades and really rallies and invigorates the community. how think there is something else that can be done to rally the community, other than a marathon, that you would suggest. >> i suggest let's get everyone together and come out and really help. officials come out here and see how we live before you worry about the marathon, 2, 3 weeks from now, if possible but not now. and we know the death toll is 200, not 19. >> 22 is what we have on record, but we can tell you as well, thank you very much, for your time, and we can tell you a lot of residents told us they think the number is much higher.
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back to you. >> thank you and mayor bloomberg intimated as much yesterday in a press statement, before he cancelled the marathon. the reason why we are going to staten island, you might hear from officials at fema and the administration, everything is fine. the teams are on is the ground and addressing this and the fact of the matter is, it's not fine. look at what is going on, staten island. that is not fine and texting and tweeting relief reminders to folks who dent have internet and don't have power is -- shows the folly of what is going on here. when we talked yesterday as we were about officials of all stripes patting themselves on the back, it is little mystery why the constituents want to give them a swift kick in the rear including my next guest when she joined me last night on fox news, mary ann, a staten island resident. she has spoken to us about things the mayor and fema
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officials are not seeing or reporting. not graduation option. how are things looking now? >> neil, another day, things don't look any better than yesterday. finally, we see red cross but their located there, try and walk through the debris and everything in the streets, to get there. it is impossible. i believe the death toll, also is much higher than that. because i know for a fact, duncan hills micy cousin lives there and, the property there, no one has been there to site and they say listen to news and twitter and facebook. there is no electricity. >> when you say no one has been able to look at the properties. there are a lot of homes under water or homes that have been up lifted and moved, there is no way to get to them. and the feeling, i guess fema folks are saying the body count could be higher, right? >> i'll bet the body count is higher. because there are many areas in
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duncan hills that have not been touched. my cousin is there and she has been there since the day it happened in her home, no one, no one has been to her area which is duncan hills on jefferson. i called her this morning, because all she has is her cell phone to see if she was okay, and, i'm in the my own devastation and i couldn't get to her because of flooding. >> when we chatted yesterday, staten island, i thought it was the rodney dangerfield of new york burrows and i said that in a kind way, you never get the respect or the attention it deserves and, in the case you had among the worst storm damage anywhere. does it bother you, when you hear fema officious, administration officials, commending each other for the great job they are doing, you don't seem to be seeing it? >> well, i have to go back, with the panelist said yesterday's interview and she's absolutely right. staten island is devastated.
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and she didn't pat anybody on the back and said who was present. i think these politicians, they are all for themselves and living in their houses, during the storm in warm blankets and warm homes and looking at each it's. it is the people who count, not the politicians, we have a right to speak and say what we want to say, our politicians need to back us and be there for us and i'll be honest, outside of a handful there isn't any and i have total respect for bloomberg though he cancelled his marathon run, because, common sense, take care of people in need before you take care of yourself. >> mary ann, be well. i wish the best for you, as do our viewers, and, we only show this to put it into perspective, you are hearing glad-handing, and it is not a problem and that was the same kind of initial reaction we got after katrina, 2005. i'm not, again not comparing the gravity of the two event but i am comparing the immediate
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official response over the handling of these events. what i'm also noting is the distinct difference in the media coverage of 2005 versus this storm in 2012. whether it will be an issue a few days from now. pat? >> it could be. what we are seeing, now that the mayor's moment of let them eat cake pass, with the marathon and by the way, i have yet to see him in staten island. >> he has not been there yet. >> doesn't it tell you everything, the people you interviewed said. there is a political effort to run the clock out. with the media, like they've done on libya. just like they've hidden the truth about libya, hide the truth about this in the service of obama's campaign. let's get it straight. >> fox was the first camera crew to go to staten island to show this and others in the media have gone.
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you can't ignore it. >> there is a disconnect, the politician want to say everything is okay. rereality is this afternoon. what will they do, have runners stumbling over bodies on staten island? the fact they don't care about ordinary people. the president took ownership of this the other day, and he said, 15 minutes, call me every 15 minutes. where is the federal response? why hasn't there been more done and people in gas lines four horse and, how many years do you have -- has it taken to learn what you do, with -- >> people when they hear -- we heard -- officials tell us thing are under control and we get more and more evidence. and you say, even outside those immediately impacted states people -- >> i'm noticing... they see real people in lines, when they see them, that's my point about the mainstream media. when they see, going, hey, that is not well and these people -- and start thinking, well, wait,
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this is supposed to be all solved, it raises doubts, the more stories get out the less the president -- the president should have stayed in the white house and the going out, campaigning 6 events and doing a fema thing, get something to somebody. that's the test. >> thanks and, again, folks the situation is escalating, not easing. forget the nearly 3 million folks without power and the body count could rise and maybe substantially. again, this is not katrina, 2005 but the reaction and indifference and the cockiness on the part of officials who tell you all is under control. very, very similar. the only difference is this: the media treatment of it. more after this. energy is being produced to power our lives. while energy development comes with some risk, north america's natural gas producers are committed to safely and responsibly providing generations of cleaner-burning energy for our country, drilling thousands of feet below fresh water sources
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>> we have a good plan, and, great job. >> back in the katrina days and
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today you hear nothing but good thing about fema. >> president barack obama: i want to thank craig fugate, who lives and breathes this stuff. [applause]. >> neil: you know, i'm hearing all of this glad-handing and back slapping and i have a lot of friends, obviously, family in the metropolitan area around new york, a lot of friends, close ones in staten island and i knew what was going on and i want you to juxtapose these guys high-fiving each other and this. >> fed up! fed up! this line, that line, what are we? is this america? >> no food. >> people trapped here, still. >> don't have anything, anywhere to go. no clothes. >> people are hurting and still looking for people. it is crazy. >> nothing is done here. >> where will you go? you got no gas, nothing. >> 22 years in my home and i lost it. >> neil: who will you believe, officials who say everything is hunky-dory, we're on it, or
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those who are knee-deep, literally in the middle of it? bobby jindal knows how to handle these crises and has handled more than a few, getting help, troops, immediately to those affected areas. governor jindal joins me now. governor they are not getting out there, there's a great disconnect between the help we are told is on the way and the reality, for a lot of these folks, what do you do? >> neil, first of all, our thoughts and prayers go out to those who were victimized by the storm, hurricane sandy, and obviously the folks in louisiana know what it is like and have been through katrina, rita and gustav and isaac, and, i encourage everybody watching, if you can and outside the impacted area go and donate to your favorite charities, those involved helping people get back on their feet. we have experienced the charity groups, so many times are the first ones on the scenes and a lot of times more effective than the government. what you said said earlier, it
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is too early for an elected leader to declare victory or try to score political points, it should be about helping the folks, whether getting fuel out there, food and water, people back into their homes, power turned on, way too early for people patting themselves on the back and, many times after the storms, the hardest work occurs after the storm. the reality is dealing with the aftermath with so many communities devastated. it is different than it is a home or a block, as you said on your show and other shows, entire communities are devastated it makes it harder for people to get back on their feet. need of giving speeches an congratulating or assigning blame or score political points i think it is important to get help to people. my experience, our experience in louisiana has been, the bureaucracy doesn't move as quickly and is not accustomed to that. it's not a partisan issue, you have to push it at every level, especially the federal level to move quickly and have a sense of
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urgency and get the job done and worry about paperwork and other stuff later. but to focus on results, not process, in my experience, every one of these challenges, whoever is in charge, push the bureaucracy. >> neil: do you think if the president said the response has been adequate, proves it has not been or a lot worse than he has let on it comes back to hurt him. campaigning business as usual will come back to hurt him? >> a couple things. one, it is way too early for the president or anybody else to say how the response has been, it's an ongoing crisis and as you reported. there are still in the early stages of recovery and responding to the massive storm and is too early for the president to say the response is one way or the other and i think most folks aren't worried about the politics, they are worried about getting folks back on their feet. i think one of the most eloquent expressions, you heard it during
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katrina and this is america, people shouldn't have to wait long for food, and basic supplies, shouldn't have to wait for those things and the most important thing, not the political points or posturing on both sides, but to help them get back on their feet. stop declaring victory and giving speeches, help them get back, to normalcy, for many people, they are looking for several months, if not years of work to rebuild their communities, not going to happen overnight and the quicker we can help them get back to normalcy and semi permanent housing and sense of rebuilding schools for their kids and energy, power, food, utilities, the normal basic necessities of life the better the communities and people will be. >> neil: all right, governor jindal, thank you, very, very much. we'll continue to monitor these developments as the governor pointed out, and, it is not just by showing up but, actually doing something. we'll take a close look at the economic impact of all of this, on a day both campaigns are at full throttle to get out the vote. a lot of the early vote at that.
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better than 35 million americans, already, doing so. it will get very big, very interesting, very fast, jack welch. very soon. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] , ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your loca mercedes-benz dealer. then dot get nickle and dimed by high cost investments and annoying account fees. at e-trade, our free easy-to-use online tools and experienced retirement specialists can help you build a personalized plan. and with our no annual fee iras and a wide range of low cost investments,
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>> neil: we have been focusing on the aftermath of hurricane sandy and all, regardless of what happens in the end it will have a big impact on the economy and the administration says, it is improving and we got the latest hint of that, the final jobs report, before the leck and that is, surprising spurt, better than 170,000 jobs, added, plus to the economy and unemployment rate of 7.9%, and back with us is jack welch, who might quibble with the rate, in about the last time and you still don't necessarily buy these numbers?
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>> neil, look, the real unemployment rate, take the last ten years, prior to 2009 recession, ten-year average of what is called the participation rate, how many people are working, temporarily, full-time, and, you take that number, and you take ten-year average, and you run it now with the workforce. you have an unemployment rate close to 11% and that is what the real unemployment race, people are feeling, out there. now, garbage workers have walked away and that is the real rate and the number, 7.8, that popped in the other day, didn't make any sense. i mean, you had a number that said we had more people added, since ronald reagan's biggest month in june, of '83, in september. >> neil: you were questioning the math. >> i was questioning the methodology to go out. it is 2,000 people, on a phone, in three phone banks calling
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people saying, hey, are you working? hey, how much time are you working? >> neil: by the way, calling you at home in the middle of the day, they are obviously not. what is your sense of the economy? the president tells people, look the trend is or friend. things are getting better and mitt romney says, if this is better, it is bad. so, what is your gut? >> my gut is, the economy in gas and oil, is improving, because of fracking. and, automotive, because of the obsolescence, we have strength and housing is coming off the bottom now and no question, the three segment are moving, capital spending is nowhere. the economy is running along at a 1.5% gdp rate and you might get two every now and then and look what happened in the third quarter. 62% of american companies missed their revenue forecasts.
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that doesn't bode well and challenger, came out, layoff announcements are up 41%. >> neil: what is the dichotomy between average folks, a consumer confidence survey out, very high and bosses, guys like you, very do your. my feel it when my boss is depressed and i wonder, why should i be happy. >> the industrial economy, right now, let's talk about this election, and, going forward. as i see it, and, 2013-2014. we have four, if you will question marks, and the first two, the fiscal cliff, everybody talks about. you know, the debt, the taxes, how we'll get revenues, versus costs and the second one, the regulatory wall, no one is talking about. the wall that is going to hit
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when ozone is pushed back, 201 3. when america has a chance, right now, to have it be the american century. the american century, gas and oil break through with fracking and everything, has a chance to change the world. and we have a chance to be the most competitive country in the world. with low cost energy, across all businesses, with a great chemical industry, coming back, but that all depends on how we handle regulation. and, this administration, more important to our future, steven chu, people who will be regulating the hell out of the... >> neil: that is the real problem for businesses, is that, the health care and everything else, just going to be regulated and it is going to put a crimp on everything.
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regulated to death and put a crimp on everything they do. >> that is the most important thing. we have a chance to turn america totally around. >> neil: what would happen if barack obama won, jack? >> there's a very -- i don't know the answer, i know there is a high probability of regulatory christm crimps in the gas fracking area. >> neil: in the big picture, jack welch sees barack obama reelected. if it were to happen. what happens to the country? >> slow growth, growth that will come back, we have a monetary policy that makes money free and we'll have slow growth, 1.5 to 2%, versus the opportunity, for three to 4% growth rate. neil, we talk about the middle class, middle class has been hammered wi hammered. the only way to get a great
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middle class is to create the high paying jobs from a very competitive america. that will come from energy independence and low cost energy for every industry we have. that is what we need. we have a chance with the fiscal cliff, with president romney, who can work across aisles, has proven that. to get some solution to the revenue cost, and we have a huge chance in north america energy and spending and make america the most competitive country in the world. we have the intellectual horsepower and once we get the energy, and have the low-cost energy, this can be the american century. it is not going to be the american century, you have a small piece of this, in new york. take the marceles, the only
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>> neil: all right, jack welch, always an honor and pleasure. thank you very much. seems to know a thing or two about what he's talking about. more after this. from currency trading for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. out for drinks, eats. i have very well fitting dentures. i like to eat a lot of fruits. love them all. the seal i get with the super poligrip free keeps the seeds from getting up underneath. even well-fittindentures let in food particle super poligrip is zinc free. with just a few dabs, it's clinically proven to seal out more food particles
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>> neil: and, cataclysmic change, we'll be talking to a guy who will be leading the chopper, should that happen. and, sandy may be long gone, but, the problem she left behind are far, far from over, and i know this is hard to believe, but, 3 million people are still without power, and, not just in
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a couple of states, 15 states, and utility officials say some of those outages, could last another week, as temperatures continue to drop, obviously, temperatures flaring in connecticut with utility workers, who were reportedly pelted with eggs. and, those long lines for gas, they are not going away, across new york, this morning,.... and long lines just to fill up. i will take a look at what is going on this washington, right now. this is the million puppet march. started as a million muppet protesting mitt romney's plan to rein in pbs and funding for pbs but other puppets sympathizing with pbs have joined the march, but this guy tells you what is happening to our country. i'm telling you guys, it is rome, the final days and we have
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senate races, heating up in the middle of all of this, puppetry and pollsters are starting to say the democrats will take control and my next guest, not so fast, george allen, the republican running for senate in virginia. barely lost by a tenth of a point and now the polls have him even, with tim king this time, and anyhow, what do you think the senate looks like now, have you had to handicap it? >> it is very close. we have a race in voo virginia and we are working hard in virginia and are encouraged by the enthusiasm and we see people envision a better future than we are having to endure these days and virginia, care about jobs and the economy and the latest threat coming out of failed washington leadership. on this sequestration, which is causing over 200,000 jobs, in our defense industries.
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and, jobs in virginia being at risk and obviously, our military readiness being harmed and, listening to jack welch, he's exactly on target. what we see in virginia, is people in washington, with the epa regulation, outlawing coal, which is causing thousands of job losses, and communities in southwest virginia. and, i've told virginians, if sworn in as your senator i'm introducing a bill to allow us an virginia to produce oil and natural gas off our coast, and use the royalties. for roads and transportation. and with mitt romney in the white house, he'll be saying, yes, to virginia. jobs and energy, from our coal fields to our coast, and, we really have a manufacturing renaissance and also, more affordable fuel and, electricity. and, a better quality of life. so, we are trying to motivate and inspire people for positive constructive ideas that can get our country spending once again and i want to be virginia's senator and my --
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>> you have a good campaign pitch going there. i want to talk about what you would do if you got to the senate. a lame duck session of the senate and congress that would have to handle the pressing issues, the fiscal cliff jack welch talked about and you alluded with the sequestration cuts and there is talk about just extending all of those bush rates, all of those cuts, putting them off for six months and maybe a year. so that either -- reelected president obama, or newly elected president romney, can get their respective arms around this. and every hammer out, a new tax code, simpler tax code or something like that. do you think that is likely? >> i would like to see that happen. i don't think raising taxes in the weak economy would do anything other than put people out of work. the best way to raise revenues is with a vibrant economy and people working and, getting a paycheck rather than worrying about unemployment benefits being extended. and i think that there is a basis for an agreement,
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bipartisan agreement, to reform our tax code. to make it more simple, more fair, more competitive. and remove the loopholes, particularly for businesses, where, right now, american businesses are hit with the worst tax in the world at 35%. the international average is 25%, and i have been advocating 20%, and if that were done, over 500,000 new jobs would be created. and the dynamics of it, there would be over $23 billion, in new revenues, and, also unleashing our energy resources. all in all, throughout our country, the federal government could get over $1 trillion in revenues, without raising taxes. so, i'd like to see the people both parties, come together, and work out a more simple, fair and i think the job creating tax system, and a complicated one we have now that puts american job creators at a competitive disadvantage. >> good having you.
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>> neil: odd-even days, for gas filling up, is happening in new jersey and a lot of folks don't know and what if you are arriving through new jersey and it all takes effect at noon. the idea is to cut down these lines. so, we'll see how that goes. but... this is not going to be received well, and what about these people, trying to fill up containers for their generators? odd-even days for them. i'm telling you, it could be a mess. governor christie is trying at least to get it under control. a lot more, after this. ♪
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going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined.
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>> neil: the emergency stations, coming into the metro area. >> neil: allow us to -- gas strapped customers and would be a ten gallon per person limit, and i don't know where these setup centers would be, but, they are trucking up to 12 million gallons of fuel, to the new york area. for this... and we have seen that since the last energy crisis, back in 1979, odd plates, that ended up -- odd number gets gas on odd days, and, even number plates on even days but most folks in new jersey have no idea this is hamming and most traveling through the state have no idea this is happening an imagine their surprise, a little afternoon, if they have the wrong plate and they expect gas
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and the guy tells them at the pump, sorry you have to come took, that should go down well. reaction to all of this and what could be a storm, whose final tally could be north of $50 billion, with wall street titans, don marron, former ceo of painewebber and fine things on his resume, keep them rolling under his name, how does it go down? >> resilience of new yorkers comes through and it is a serious problem and i think the big issue here, is the limitations of the infrastructure. in new york, and around the country. this is a topic that was prominent a couple of years ago and is not now and whoever wins the next election, has to focus on the infrastrrcture of this country, it is old. you see this in these pictures. you see this in the road and the ability to really deliver gasoline and other things. this is a storm, we had plenty of warning on and fortunately, a great mayor in mike bloomberg and the reality is...
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>> neil: a lot of people were saying, maybe do it and making a direct impact on what is going on. >> neil: i have great respect for you, every penny i have seen earmarked, is a dirty term, for infrastructure, it doesn't find its way there and if i had a dime for every dime, i said we're going to build a road or bridge, i don't have a lot of dimes, we never get the road or bridge, between tolls and surtax and gas taxes, fees, all are meant to do the very thing you would want to see done, i think most would agree with you. we don't see it.
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we need like a... an infrastructure lock box? what? >> i think we need -- you are actually right. it is diluted by the system, one of the big issues in the election which is, if government keeps getting bigger and bigger, is that problem going to get bigger and bigger in turn. all i'm saying, eventually what happens in this country, a problem gets so visible and obvious, even all of the politicians can get together. and present something that is practical and effective and will work. >> neil: if we switch players in the white house, let's say a president romney comes in. will it change? do you fear, i know you have addressed it in the past, several administrations, that there is just a tone in washington, that makes getting anything done impossible. >> i have been down there a couple of times in the last few weeks and that is the tone and whatever you say, it is hard for the administration to get everything done, they've handed over the keys to the congress and the congress is filled with
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ideologues, who sacrifice the country to push their own point and you have to hope whoever is the president will be able to walk across the aisle and get compromises and, more important, pick the right priorities. obviously, the fiscal cliff, right, we have to take care of that. beyond that, there are multiple things is that a have to be done about the economy and the most important is having a job-friendly creation opportunity. it is not easy, and wall street, think markets will go up, whoever wins... >> neil: on that, we have seen earnings contraction and a lot of people worried, presage a recession... >> i think we're in a tough time and reality is yields are too low to keep your money in things that are earning nothing. >> neil: a good point. don marian, thank you very much and talking about the interest rate you get on treasury notes and bonds and maybe stocks will draw the money out. anything beats virtually 0%. that is the hope, always springs
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eternal. how do we fix the whole infrastructure mess? how about $12 billion more for fema? the congressman who wants that. after this. follow the wings. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that'easy [ male announcer ] progresso. you gotta taste this soup. governor of getting it done. you know how to dance... with a deadline.
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>> neil: as the rescue efforts and rebuilding efforts continue along the east coast, northeast coast, more to the point, along atlantic city, and, right through staten island, where damage is in the tense of billions of dollars, to the guy who says fema, to the rescue and fema needs more money to rescue, and, a democratic congressman, from the fine state of pennsylvania says, give another what, $12 billion? is that right? >> $12 billion is the bill and $6.7 billion for fema and $5
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billion to help state and local governments. your governor there in new york says it's a $50 billion problem in terms of costs, to new york, new jersey, you've got to do something, with rebuilding the coastline and all the damage. philadelphia, connecticut, damage in cost to local government, so i've put forward a bill that -- there will be a bill to provide emergency funding, because it is -- the storm as it always is and the question about, you know, when we move and how we move it, i think we should move forward, aggressively, now, because, you know, i heard on fox business that $25 billion, retail sale losses, i mean, there will be a real economic consequence here. and we need to respond. >> neil: you know, maybe i'm the only one in the country who doesn't share your enthusiasm for fema. i saw a lot of fema officials and others slapping themselves on the back about the great job they are doing and i'm looking
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at staten island and the jersey coast and seeing, well, they are obviously unaware or not addressing some of the real problems out there. they are still doing a lot of ridiculous things, like texting and tweeting people about what they can do and the people have no power, no phones and this is part and parcel of the problem. if you are going to argue, give them billions of dollars more money on the belief they are really up to snuff to doing the job, i don't see that. >> well, when you're in the middle of a crisis it is hard to see the big picture but there is no finer... >> neil: i am in the middle of the crisis and i was in the middle of the crisis... >> neil, neil... >> neil: and they say, the people in charge of addressing the crisis don't do anything about the crisis. >> let me say this, neil. there is no better agency anywhere in the world, to respond to emergencies, and as you said, there are 12 million gallons of gasoline, being flown in through 6 c-130s and utility
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trucks, as far away as california. to help repair power lines, power is coming back on, parts of new york. and my belief is that by -- >> you and i are going to argue over fema and whether it's worth it. i disagree. that's okay. >> the only agency we have to deal with these problems. >> neil: i'm concerned, about where you will get the $14 billion, $12 billion, go deeper into debt? >> look, this is about a month-and-a-half of what we spend in afghanistan. so let's be clear. if salvaging new york and new jersey and continue continue and pennsylvania is not worth a month-and-a-half of what our country is spending in a place that most of us will never, ever see, then i don't know where or priorities are. >> neil: all right, congressman, thank you very much. ocean county, new jersey. the storm goes on, the floods go on, a lot of big questions, back and forth, as to the best way to help these people. we shall see. we shall see. i'm a conservative investor.
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